Net Zero Transition Plan
Position Statement on Palm Oil
AmBank Group recognises the importance of the palm oil sector to Malaysia’s economy, contributing significantly to national GDP and rural livelihoods. Given the crucial role Malaysia plays in this sector, the Group is committed to supporting the palm oil industry’s transition towards sustainable practices, while mitigating environmental concerns, ensuring economic resilience and bringing socio-economic benefits to the country. Hence, alignment with the country’s policies is necessary to drive change towards sustainable agriculture practices.
As part of this commitment, AmBank Group has adopted the No Deforestation, No New Peat, and No Exploitation (NDPE) stance which includes the protection/ preservation of:
- Primary forests and forest reserves
- New peatlands
- Human and labour rights across the supply chain, including compliance to related national laws
- Rights of indigenous people and affected communities, covering Free, Prior, and Informed Consent (FPIC)
As such, AmBank Group will support and finance new or existing customers who are aligned with our NDPE commitments, have obtained or have a timebound commitment to obtain the mandatory Malaysian Sustainable Palm Oil (MSPO) certification, or international sustainable palm oil certifications certifications, or have clear transition plans or established net zero targets in place.
Our Sectoral Pathway and Target
